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a fight around the debt ceiling? do you think we'll have a disruption around this inability to compromise? >> i know nothing more than you other than what i read in the paper today and it seems like they are already starting to. could mice by pushing it out and asking for a budget which i think all seems rational and compromise by the way so i applaud them. >> what does your gut tell you about all the money moving into stocks recently? had a fantastic early 2013. do you think this is sustainable? >> the economy grows it's sustainable, and i still think you can buy american companies at pretty good prices. these are some of the world class companies, you know, not just american companies, european and japanese and chinese companies, but you are still buying at fairly good prices and the alternatives aren't that good, yeah, i'm comfortable owning stocks right now. >> are you saying that kind of comfort on the part of investors, the private bank, wealth management? what are you seeing in terms of the sentiment? >> i think, yes, but not -- it's not -- you and i have seen real bull markets, no
a debt ceiling bill doing nothing but pushing of the problem until making the can down the road. and new york congressman sat -- has me upset tonight. they're going to want to you this. stay with us. albrecht, he could not be more wrong. ♪ gerri: to people in the south cling to their guns and religion? is that part of the country something we need to overcome? my thoughts in 60 seconds. ♪ ♪ gerri: i have to tell you, nothing, nothing gets under my skin faster than and new yorker calling out the south which is exactly what happened recently in a tv interview. new york congressman telling the most other states should adopt gun laws exactly like the one passed in the state of new york. >> new york, it's a little different and more progressive and a lot of areas and some other states. some of the southern areas of cultures that we have to overcome. gerri: cultures that we have to overcome. all right. i forgot. the south is still a backwater to new york. the region languishes in a post antebellum haze of poverty and backwardness. in truth, my friends, the south has benefited from long-t
>> in august 2011, it was attached to the spending. it is quite the norm to raise the debt ceiling and do something about deficit and debt. i call upon senate democrats on the senate to follow the regular order. the debt ceiling can originate in either house, the senate finance committee could generate a debt ceiling proposal and they could do it if they wanted to. try to embrace some spending reductions, but i think what the house is saying is they are hoping to act soon as maybe tomorrow and it will be incumbent upon the senate majority to function. we look forward to seeing what the senate democrats recommend. we look forward to seeing what they recommend. it's time for them to function. [inaudible conversations] >> as all of you know, the majority of the senate will determine what the majority is and we will be happy to look at what the majority leaders will bring forward to the full senate. >> what did you think of the presidential inaugural address? >> i think it was disappointing i don't think it's a great way to start off a second term. i think it is quite disturbing. [inaudible c
would congress do? caller: i would say, first, the debt ceiling there were talking about passing, i think it's a good time, a good thing for the short term. but what is stopping them from in may saying we need three more months and just kicking the can down the road? there has to be some consequences for republicans and democrats to actually say you've got to do this by a certain time or you don't have any more money to spend, so you don't get a raise. something has to be done to snap some reality back into congress. right now our grandchildren will end up paying our debt. that is pretty sad. i never thought there would be a day that i would say that. unfortunately, it is here. host: here's more information about the debt ceiling vote today in the house. freddie joins us now from missouri on our independent line. caller: hello. i think the congress has just gotten away from us. this country is we the people. the people don't have any say about anything. congress is the only one. they keep raising their salaries. and the people out here, money wise, we are going downhill. they keep r
will willing to do that. >> 10 if i'm hearing you right, john, is that using the debt ceiling as kind of hostage in budget negotiations, democrats feel that they won on that and that this is not going to come back again? >> yes and the ultimate sort of dooms day threat from washington, which is we are going to have a default or either a default on debt or selective payment of federal government obligations, appears to be melting away and that puts us back in the more conventional political back and forth about budgets and the automatic cuts. sequester. that gets us back to where we were in the 1980s. it is more of a norm of a political process. if we can stay there, that's good news for this president because it reduces a threat to the economy and of course good news to people working in the economy in the financial market. >> john harwood, thank you very much. to mary thompson now with breaking news. >> announcing charges against three alleged international cyber criminals. the three have been charged again in infiltrating computers around the world, about a million computers around
to the american people and i'm very pleased that we're going to be doing this. raising the debt ceiling is a very, very serious issue. and we don't do this lightly. nobody i think should do it lightly. i believe that the way we are going to be doing this will help us move forward with working on the budget. i think you don't get the baseline numbers to -- until when, mr. ryan? >> the c.b.o. is late because of the end of the year fiscal issues. they anticipate getting their january baseline updated on february 4. typically you have a budget resolution off of c.b.o.'s rescore of the president's submitted budget. the president's budget is coming late. the administration has not said when they are going to submit a budget, so we don't know when c.b.o. will have the opportunity to score it. usually takes about three weeks to score it. then you get your final baseline with what you normally write your budget. so that's the issue here. timing. but since c.b.o. will give us their newer baseline, we call the january baseline, in february, that gives us something to start with. >> and i read an article the
something through in 3.5 weeks. we do not have the votes on our side to pass a debt ceiling that does nothing about the real problem, nothing to deal with the real crisis, the certain crisis. it is an irresponsible thing to do, to kick that can down the road. what we have been able to do is to say, let's give ourselves four months for a serious budget cycle, with the senate says they want to pass a budget for the first time in four years, and see where our priorities are, our values are, and we can come tog# sad our wit us, but i am glad they were able to testify to the opportunities this provides. you look for those numbers of things the president agrees on, the senate agree on, and the house agrees on, they are few and far between. i hope this is ceasedsion about i am sad our witnesses have left us, but i am glad they were able to testify to the opportunities this provides. you look for those numbers of things the president agrees on, the senate agrees on, and the house agrees on, they are few and far between. i hope this is ceased to mark. >> there has been discussion about why we
's not raise the debt ceiling? let's pretend we simply do not have one. and do that for a period of months. is that -- is that thing going to get the votes? that is the question that luke russert asked. >> i am not on the whip team, i can't give you a firm answer. there will be no votes from republicans and yes votes, i have no idea. >> that is the question, should they vote for this thing, which by the way contains some crazy provision about congressional pay, describe what this provision does. >> i concur -- >> it suspends their pay as long as they don't -- >> it puts their pay in escrow until basically the next congress if they don't pass a budget. >> let me just read one thing from the constitution of the united states. >> no law varying from the services of representatives shall take effect until the election of representatives -- you can't pass a law about your pay during that congress. >> with great respect to the congressman here, i'm not an elected official. what i hear him saying is we have a very difficult budget situation. and therefore, we have to go full speed into total dysf
they wouldn't do it unless there were deep cuts for every dollar, for every dollar that the debt ceiling was raised, a dollar in cuts. >> sure. >> let's see what they do tomorrow. >> congresswoman jan schakowsky, thanks for joining us tonight. appreciate it so much there a lot more coming up in the next half hour of "the ed show." stay with us. >> this is our generation's rendezvous with destiny. >> republicans can't win elections with their policies. so rights in the gang are hard at work rigging the electoral college system. the latest stunner from virginia is next. >> he's had it with taxes. he says he's going to take drastic action. he says he's had enough. >> legendary golfer phil mickelson is complaining about his new tax rates. we'll tell you why he should stick to golf. >>> and the pbs series "frontline" is out with a new documentary about a lack of accountability on wall street. >> in the due diligence world, fraud was the f word. you can't use that word. >> correspondent martin smith is here tonight with a preview. wouldn't it be cool if we took the already great sentra apart a
they want to do another gimmicky kind of increase in the debt ceiling, just three months, and if a budget doesn't pass, then members of congress can't get any pay, their pay is held up, i think that we ought to ask them, then, to put up all the votes, i mean enough votes to pass the bill, to see if their members, who have pledged not to raise the debt ceiling, who said they wouldn't do it unless there were deep cuts for every dollar, for every dollar that the debt ceiling was raised, a dollar in cuts. >> sure. >> let's see what they do tomorrow. >> congresswoman jan schakowsky, thanks for joining us tonight. appreciate it so much there a lot more coming up in the next half hour of "the ed show." stay with us. >> this is our generation's rendezvous with destiny. >> republicans can't win elections with their policies. so rights in the gang are hard at work rigging the electoral college system. the latest stunner from virginia is next. >> he's had it with taxes. he says he's going to take drastic action. he says he's had enough. >> legendary golfer phil mickelson is complaining about his new
in the constitution, but you do not raise the debt ceiling in increments. the administration says we won't stop it but we want a long-term increase so we can begin to discuss the building of this nation. growth, the constitution, that's what we should be talking about, making america better. i yield back the balance of my time. the speaker pro tempore: the gentlelady's time has expired. the gentleman from texas is recognized. mr. sessions: thank you very much, mr. speaker. the gentlewoman from texas, houston, texas, is absolutely correct. we do need long-term growth of our economy. we need jobs. we need job creation. we need to be able to reduce the debt of this country. the president is well aware, we're well aware here in congress that each of the years that the president has been our president you he increased spending. he wants -- president, he increased spending. he wants a massive tax increase. we have a deficit of $1.3 trillion each of these years. we're trying to work together. we're trying to, as the president said as he addressed a luncheon the day just an hour after he was sworn in,
have a debt ceiling. they will do this for three months. april 15th, back to the debate. they folded a little bit. they said they absolutely wouldn't deal with the debt ceiling. a half measure, they will suspend it. eric cantor coming here to take part in a panel on friday afternoon about economic dynamism. i'm surprised that anybody from davos is inviting americans to talk about it. i'm not sure what he will get out of it. he will be here and hopefully we can speak to him about what's going on in the u.s. and in the world. >> the u.s. and europe leading the world, not so much. when you go to davos, they are talking about other big players. ali velshi, thanks. >>> 15 minutes after the hour. other news around the world. from the upper midwest to the mid-atlantic and new england, seeing and feeling the coldest temperatures so far this winter. feels like 7 degrees in washington, d.c. near zero in new york city. and well below zero in fargo, north dakota. this arctic blast is reportedly blamed for four deaths so far. >>> in the cold, more than 300 firefighters had to deal with 7-degree t
in the last debt ceiling. do you know this congress is only going to be the third congress since world war ii that cut discretionary spending year over year over year, even in all those terms and newt gingrich during that, they weren't able to do it as many times as we will. we have moved discretionary spending down. we want to see tax reform to expand the economy and go further. this is a succession. that will go into effect. then you have a cr that will go at the end of the month. that is another movement and an opportunity. >> gretchen: all right. congressman kevin mccarthy, nominate you for football coach potentially with your standing ovation. thanks for your time today. >> thanks for having me. >> gretchen: one of the most insane videos you're going to see all day long. (scream) >> gretchen: plane nearly taking out that biker. you might ask yourself what is the biker doing on the tarmac? the whole thing caught on camera. luke perry is back on the rodeo. can he deliver classic lines like this? stick around. >> seeing this world and there is two kinds of people, my friend. those are load
the debt ceiling. it's about time we come together, do our work. the american people expect no less. >> as i said, the bill still has to overcome some concerns expressed by members of the house and the senate before it can pass both chambers and reach the president's desk. if it does and reaches the president's desk, he would not stand in the way of the bill's becoming law. >> a republican sponsored debt limit measure requires both the house and the senate to pass a budget bill by april. >>> the u.s. military commander in afghanistan has been cleared of allegations of misconduct. general john allen was accused of sending inappropriate e-mails to a civilian in florida. jill kelley was her name. a complaint by kelley exposed the sex scandal that forced cia director general petraeus to resign. kelley and her husband wrote in "the washington post" they were harassed after their names were made public. when the scandal broke, allen's nomination to become the commander of nato forces was put on hold. the white house has not decided whether to go ahead with allen's no
are going to focus on the debt ceiling, the debt limit and the c.r. do you intend to bring up any of those recommendations? >> i expect our committees will hold hearings and make decisions after they have had their hearings. thank you all. [captions copyright national cable satellite corp. 2013] [captioning performed by national captioning institute] >> nancy pelosi held a briefing on the effectiveness of the violence against women act. she believes it helps to save lives and called on house republicans to re-authorize it immediately. the bill was up for consideration last year but blocked in the house by republican leadership. this is half an hour. >> good afternoon, everyone. this is a very special occasion for us to come together around a piece of legislation that strikes to the heart of our families and our country. i'm pleased to be here with democratic whip steny hire, ranking member conyers of the judiciary committee. congresswoman gwen moore, the author of the violence against women act and louise slaughter. congresswoman slaughter was one of the original co-sponsors when we passed
: which do you think is more important, the no pay or the debt ceiling being extended until mid-may? >> dennis, the most important thing is the united states needs to get its fiscal house in order. if this is what is required to get the senate to pass a budget so we can begin to work in bipartisan ways to get there, that can be a message. if they live within our means, we have to do that as a country. until there is something on paper, we cannot start. we will hopefully get the senate to pass a budget and go from there space. cheryl: there is a stark difference between revenue increases and tax increases. how do succeed in this fight this time around? >> they have said that the better way to raise revenue is by eliminating deductions and loopholes. making the tax code flatter and fairer. you raise revenue, but you also set the stage for more economic prosperity. i am all for that. i am all for a way where we can have a progrowth economy. i am all for that. i can support something like that. dennis: russia, the country of russia has just adopted a 13% but tax. any talk of any tax
strong. now interesting note on the republicans. on the other hand they caved on the debt ceiling. so why did they cave on the debt ceiling. we have an expert on that. i think that's really interesting, and what do they plan to do on the budget fights instead. and then there is an unbelievable documentary on how wall street got away with clear criminal action. it's a devastating story. i can't wait to share it. >> jennifer: all right. cenk uygur "young turks" at the top of the hour. thanks, cenk. >> thank you. >> jennifer: now we're going to turn to a story about equality. located in the nation's capitol, washington national cathedral is the sixth largest cathedral in the world, and the second largest in the united states. it was built in 1792. it is magnificent. it has hosted many important events. it is also a place where local d.c. resident goes to pray and baptize their children and get married. and now for the first time in the institution's more than 200-year history, gay couples can officially get married at the cathedral too. here to tell us about this exciti
, who do you think the worst bluffer in the whole debt ceiling game? >> well the worst bluffer is where the republicans who are actually threatening not to raise the debt ceiling. in poker the only way a bluff can work, the only way it is credible if the other player actually believes you have a strong hand. but in the case of the republicans here we all know what would happen if they didn't raise the debt ceiling. it would be a total catastrophe. that bluff didn't make any sense at all. at least to their credit they're altering the ultimate solution. melissa: i couldn't disagree with you more. they could shut down the government. it has been done before. >> it is more than shuttings down the government if they don't raise the debt ceiling there are so many people expecting payments veterans, soldiers, the --. melissa: but they get to decide who they pay and they don't. they could decide to pay those people and -- >> a lot harder, very, very hard to decide who they pay and who they don't. logistics are total nightmare. there are billions upon billions of computerized payments. if you wa
highs and we are watching washington, dc, especially today the vote on extending the debt ceiling. the silicon valley index looks higher. how do beer flavored crackers sound? those are the hottest food friends in 2013 on display at the winter fancy food show at mascone center including peanut brighter spiced with chili and oil and cherry pits were other offerings. >> broccoli tree? >> my kids have cinnamon steak. >> thank you very much, jane king. >> interesting combinations for food. >> what is on the menu weather-wise? >> on the menu? not so spicy, with the southeast waiting for the sun to rise. here is the cloud cover, and you can see we have haze out there and pollution is possible, this is "spare the air" day and we have more moisture near so temperatures are in the 40's and 50's. live doppler 7 hd still showing our best radar run out over the ocean and light radar run so the possibility of sprinkles in the north bay but we have not seen anything on twitter or the national weather service so we assume it is a scattered sprinkle or two so we will wait for mid-morning for more
should do what darrel isa would require a $1.7 trillion increase in the debt ceiling. darell should be candid in passing the ryan budget. >> in terms of wall street. the first vote is tomorrow. it is a vote to extend or increase the borrowing limit. but that is an action that wall street will look at in the house. first of all, you are right. and wall trestreet wants us to the fiscal progress. but, to mr. welch's point american families don't wait ten years to balance their budget. they don't call that extreme they go, that takes too long. we have to let them know that it is going to be a challenge to get to a ten year plan but we can do it if we work together. that is the message coming from congress right now. let's work together because if we don't i have little kids, my kid rz going to pay for this debt. they are the victims of this policy. >> i'm agrees with it. but americans pay their bills. they don't threaten to buy a freezer to stiff the payment because they are over the limit. >> that is what we are doing right now. >> before we get to the next generation and the generatio
. >> reporter: the debt ceiling suspension came with a couple strings attached. if senate democrats don't pass a budget-- something they haven't done for four years-- members of congress won't get paid until they do. >> this bill simply says, "congress, do your job." when i grew up in wisconsin, if you had a job and you did the work, then you got paid. if you didn't do the work, you didn't get paid. it's that simple. >> house democrats called the pay ploy a gimmick and said a 90 day reprieve from default simply moves the crisis back. >> for the last two years, we've heard from our republican colleagues economic uncertainty is bad for the economy. guess what? it is. and yet that's exactly what you are doing. another big dose of economic uncertainty. >> reporter: republicans shifted gears on the debt ceiling after a strategy session last week. worried that they have lost the public debate, republicans were clearly trying out a new message today. >> balancing the budget over the next ten years means we save the future for our kids and our grandkids. it also means that we strengthen programs like
with it. coming up, house republicans have a plan for the debt ceiling. they may want to be careful what they wish for. next, what was once considered the best investments out there not performing. we take a look get next. >> announcer: you never know when, but thieves can steal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they can open bogus accounts, stealing your credit, your money and ruining your reputation. that's why you need lifelock to relentlessly protect what matters most... [beeping...] helping stop crooks before your identity is attacked. and now you can have the most comprehensive identity theft protection available today... lifelock ultimate. so for protection you just can't get anywhere else, get lifelock ultimate. >> i didn't know how serious identity theft was until i lost my credit and eventually i lost my home. >> announcer: credit monitoring is not enough, because it tells you after the fact,
stocks, overall, will head up. cheryl: there is a lot happening. with the big vote on the debt ceiling extension so short-term. it will give lori and melissa a lot to do in the next few moments. lori: thank you. good afternoon. i am lori rothman. melissa: and i am melissa francis. the extension of the debt ceiling. will it make the markets feel any more confident? lori: in the meantime, lou dobbs is here. secretary of state hillary clinton testifying on the benghazi attack. melissa: is the economy and low beer? we have an exclusive interview with the american trucking corporation bill graves. lori: the big apple shrinking? the new trend of micro- apartments in manhattan. 250 square feet. melissa: time for stocks now as we do every 15 minutes. let's head to the floor of the new york stock exchange where nicole petallides is standing by. nicole: i saw pictures of those apartments, i would love to buy one. they actually look very cute. let's take a look at some of the earnings related names. let's start at mcdonald's. it is up about a half% here. they expect the management -- that is not
have your battering rams ready for the president? the debt ceiling bustup to come. the republicans making clear they'll fight him all the way on that. i get a sense the president can be as bold and audacious as he wants in this inaugural speech yesterday but you guys aren't going to let him get away with very much. >> he has two problems. one is the republicans won the house of representatives. boehner was elected leader of the house as much as the president was elected to run the executive branch. so he can't pass something through congress without getting a republican house. he has another problem, that's a democratic senate. 20 democrats are up for re-election in 2014. they're not as left wing as he is. they certainly didn't get elected in states as democrat and blue as obama did. so he's asking those guys to go out in front on his tax policies, his spending policies. remember, he just signed to make permanent 85% of the bush tax cuts in dollar terms, 99% of the bush tax cuts in terms of who was affected. these are tax cuts the democratic party has run against for 12 years as a
not raise the debt ceiling. especially in the absence of changing the way we do business here, starting with the approval of a the budget. it is thought to be compassionate to spend money that is not yours that is the next-generation? for our country to have growth and economic opportunity, there is no question that it is a drag on that opportunity. we have a chance to right this wrong. >> is on the senate budget committee and i can tell you that the most disappointing part is it about not doing a budget for this country in the senate. it is incredibly disappointing and it blows my mind that the senate democrats have not been willing. senators have talked about the fact that the ipad is in existence. most of my life we have not had a budget and prioritizing spending. when i think about that, i know it is about him. because we can do a budget for this company and we can't prioritize benning have a fiscal blueprints make sure that we get ourselves on the responsible path, it is about all of us, my son, every child in this nation, what future and opportunities they will have in this great
performance for dind. >> divide more defensive. it protects on the down side. we do get the debt ceiling as a pullback, our fund will do well. in that growth market, we'll tend to lag performance. we'll still participate, but not to the same extent. >> bob, thanks for joining us. >> thanks, david. >>> when we come back, looking to escape from the daily grind of the city. robert frank takes you to a private island 15 minutes from manhattan. it could be yours if you've got something close to $20 million. back in a couple of minutes. [ male announcer ] some day, your life will flash before your eyes. make it worth watching. introducing the 2013 lexus ls. an entirely new pursuit. >>> the financial elite are meeting at the economic forum in davos, switzerland, this week. jamie dimon sat down with our own maria bartiromo. we have more on that interview. maria? >> hi there, melissa. that inte. >> this morning i moderated a panel and it was a big debate on how the financial services sector will evolve. people like axel weber, who you will hear from later on "the closing bell." basically believes
's scratching their heads. and now with the possibility of having the debt ceiling extension out to may, what you're going to see now is traders and other people that have positioned themselves to sell short-term volatility and buy it out to march. especially in the vix. now that's going to get rolled out to april, to may. you'll see this continued complacency. and when i say complacency, i don't think that's a bad thing. but the continued complacency in kind of this area of low volatility. that's just going to get extended out now. we get a couple more big earnings or good earnings surprises. and say apple comes out today with -- with some good guidance, we could see the vix call to the 11 handle which is really -- that's almost unprecedented. >> continued complacency, but the news of earnings is pushing forward? you can't fight the trend? >> no, you can't. what i'm seeing is traders especially that have wanted to be short or traders that have been buying, you know, upside calls in the vix, they're almost ready to throw in the towel. it's almost -- i don't. to say a capitulation, but guys do
the debt ceiling allowing more borrowing through spring to pay america's bills and it cuts pay for lawmakers if they can't pass a budget by tax time april 15th. >> most americans believe you don't do your job you shouldn't get paid. >> i'm tired of government governing by gimmicks. >> reporter: the senate hasn't pass ad budget in almost four years. >> the last time they pass ad budget the ipad hadn't been introduced. >> reporter: paul ryan will draft the budget with deeper cuts. that's a carrot to get conservatives to go along but some still want to see cuts first. >> will not vote to raise the debt ceiling unless significant efforts are made to fix the under lying problems. >> reporter: senate democrats hint theology pass a budget but not soon. >> approach that when we need to. >> reporter: the white house says even in short term the president will sign pinpoint >> the debt ceiling ought not to be a political football. >> reporter: this republican retreat with one last tanned if they can't compromise lawmakers' paychecks could take a hit. what's still not known is if this is t
still be a showdown. >> in my view it is not responsible to raise the debt ceiling and the way that we change the way we do things here. >> catherine: democrats don't like the 3-month delay idea.but the administration won't oppose it. some of the quirky things which were part of the are all over the internet. you heard about beyonce lip- synching. but did you know that her emerald earrings are worth 1.8 million dollars? some people thought that was an excessive display.others loved them and didn't care. then there's the luncheon.where the first lady sat next to house speaker john boehner. photos and video suggest she wasn't even pretending to enjoy that. some observers say michelle obama was rolling her eyes. and even when boehner touched her arm and tried to talk to her.she mostly ignored him and refused to make eye contact. it's been described as 'rude.' >> but no one is criticizing little sasha for a big yawn during her father's speech yesterday. she's only 11 after all.and it was a long day. the inaugural yawn has gone viral. she's clearly unaffected by the global audience. another
: house speaker john boehner said republicans were willing to suspend the debt ceiling for three months. sending democrats to act. >> it has been nearly four years since the senate has done a budget. most americans believe you don't do your job, you shouldn't get paid. that's the basis. no budget; no pay. it is time for the senate to act. >> reporter: the white house called the move by house republicans "significant," though the administration still argues a short-term extension of borrowing authority does not go far enough. >> what we support is a long- term raising of the debt ceiling so that we don't have any doubt or uncertainty for businesses or the global economy about the simple proposition that the united states always pays its bills. >> reporter: at a house hearing on the debt ceiling debate, simon johnson, a former chief economist for the i.m.f. warned the continuing controversy could roil global markets and hurt the u.s. at home. >> if you don't raise the debt ceiling now, or if you postpone this confrontation, if you say every 60, 90, or 100 days, we're going to again have t
by tax time, they could end up having time paying their own bills. today's vote would raise the debt ceiling allowing more borrowing through spring to pay america's bills, and it cuts pay for lawmakers if they can't pass a budget by tax time, april 15th. >> most americans believe you don't do your job, you shouldn't get paid. >> i'm tired of government governing by gimmicks. >> reporter: the senate has not passed a budget in almost four years. >> the last time they passed a budget, the ipad had not been introduced. >> reporter: paul ryan will draft the republican budget, likely with deeper cuts than the one he offered last year. that's a carrot to get conservatives to go along, some still want to see cuts first. >> i will not vote to raise the debt ceiling unless significant efforts are made to fix the underlying problem. >> reporter: senate democrats hint they will pass a budget, but not necessarily soon. >> we'll approach that when we need to. >> reporter: the white house says even though it's short-term, the president will sign it. >> the debt ceiling ought not to be a political f
's going through? punting the debt ceiling. a vote is going to go through today. >> punting it down three more months. >> hal: a three-month wait to deal with -- >> because why get done today what you can put off? >> hal: because people are still glowing in the aftermath of the inauguration. people are still recognizing the president -- their message that the president isn't interested in deficits and handling it because he did mention it in his inauguration. he did mention doing in a balanced approach and the american people agree with him on that part. so if they have to act on it in the next week, people are still that much engaged. they're hoping in three months the american public will disengage enough for them to create another false narrative. >> so when we talk about rating the debt ceiling. we've already racked up the bills and we have to pay them. that's an obvious -- that's the fact. >> hal: right. >> they like to combine the two right and make it about future spending and paying off the bills. the president says it over and over and over again but it doesn't stick. don't under
raising the u.s. debt ceiling, the house effectively kicked the can down the road until may. lawmakers voted to let the treasury department keep borrowing money so the u.s. can pay its bills until then. the bill also withholds lawmakers' pay until may if they don't start a budget. most called that a stunt and voted no. >>> and u.s. cargo jets have flown at least five missions in mali this week. a spokesman tells cnn that the c-17 cargo jets have flown in both french troops and tons of supplies for the fight against islamic insurgents. the u.n. is warning the violence could soon displace up to 700,000 people in mali. >>> bill clinton is heading back out on the campaign trail. cnn has confirmed that the former president will headline a march fund-raiser for arkansas senator mark pryor, who's up for re-election next year. clinton, of course, is an arkansas native, who served 12 years as the governor of that state. >>> and finally, a rough day for serena williams at the australian open. the 15-time grand slam winner broke, wow, you see it there, broke a racket in disgust after blowing a on
really hit the limit. the president has asked for a very large increase in the debt ceiling, and some in the administration have called for no limit at all. others in the administration and in the house are calling for congress to give up its authority to set the debt limit, rather amazing, thus giving the executive branch unilateral authority to borrow. this is not a good idea. if the federal government does not collect enough revenue to pay for all of its spending obligations, it must borrow to make up the shortfall. everybody knows that. we are borrowing about now 42 cents of every dollar we are obligated to spend. now, this is clearly, i think everybody would agree on either side of the aisle and the public, this is an unsustainable situation which will only get worse if we do not begin meaningful discussions over our spending priorities, including, including entitlement spending to strengthen and preserve those programs for future generations. the national debt is growing. everybody has seen that chart. about $16.4 trillion. the total public debt outstanding at the end of the thi
negotiate the debt ceiling. high unemployment, social unrest. again, we learn from the mountain. baby steps to build confidence. >> your free ski slowly. we feel what we are doing. then we get confident and we get faster and faster. >> reporter: but economic growth seemingly won't go faster. there's always the risk in the global economy that something goes wrong. snowboarders are like central bankers. they have their own way of treading down the mountain. for bankers it means printing money. it's brutal economics. what's the secret to snowboarding? you pick up speed too quickly and you end up falling over? >> no, come on. you need to move. >> reporter: why do you like snowboarding? you go too fast, too quickly, and fall over. >> not necessarily. >> reporter: perhaps the best lesson to be learned in managing risk comes from the cross-country skier, those hearty experts of slow, steady progress taking huge amounts of energy. >> you need to be fit with the whole body, not only with parts of your body. >> you make the power around. you can slowly or you can a lot of speed. at your pace. >> repo
in the battle over the debt ceiling. wednesday, house republicans are expected to pass legislation allowing the government to pay the bills for the next few months. republicans made clear that it was not the right thing to do, to play chicken with the full faith and credit of the united states. >> reporter: but this debt limit deal demands democrats in if senate do something 97 not done -- they have not done in nearly four years: pass a budget. >> we clearly near a budget. there hasn't been a budget in three and a half years. the debt has gone up $5 trillion since we had a budget in the senate. >> reporter: the g.o.p. initially wanted to use a vote on the debt limit to force democrats and the president to agree to more spending cuts. randall pinkston, cbs news, washington. >>> earlier in this newscast, we showed you a 49ers fan who tattooed his love for the team in vallejo tonight. now let's introduce you to nez adrian. he is the reno tattoo artist who incorporated colin kaepernick. he had kaepernick as a can vice since 2008 when he played for t
, today republicans in the house are expected to vote on a plan that's going to defuse the debt ceiling crisis at least temporarily. republicans are planning to offer legislation that will suspend the enforcement of the federal debt limit for at least three months, allowing the government to keep borrowing money to pay for all of its current obligations. in exchange, the house gop'ers want the democratic-controlled senate to do something they haven't done in 1,365 days, pass a budget. something that body hasn't done since 2009. now, instead of demanding spending cuts, republicans have added a provision to the bill that would suspend lawmakers' own paychecks if their chamber fails to pass a budget by april 15th. that's a lot like actually the no labels, no budget, no pay plan that that organization's been dealing with, talking about for a long time. michael steele, i think that's a great idea. >> i do, too. >> if you don't do your job -- >> why get paid for it? >> and the democrats in the senate haven't done their job in that many days, why pay them? >> i don't think you should. in fact,
these problems. >> can i ask you about a quick question on raising the debt ceiling for three months without the corresponding budget cuts, is that something you support? >> yes, i'm saying yes i would vote for it, but what i want to do is i want a solution. we need the senate to do it's job. they have to pass a budget in this country so we can get to reconciliation and work our differences out. >> thanks for being with us, it's nice to see you. >> ahead this morning, we're going to talk about secretary clinton's testimony. there's a lot of things that have not been answered. >> she took responsibility, but that doesn't wipe away the fact it happened. it's a cover up -- >> cover up is a strong word. >> there has been a lot of dancing around the issue. >> ambassador rice was getting the kind of questions that frankly only secretary clinton can be answers. >> we have coverage of the testimony with wolf blitzer. >>> it is a bitter, blistery, and deadly cold snap. in chicago, more than 300 firefighters had to fight a warehouse fire in single digit temperatures. the building, this morning, is cov
about washington. tulsa and gears up to vote on a temporary debt ceiling height. bad for the economy and jobs. >> i take it is a loser, again this is my opinion. republicans are trying to do cut stores medicare and these are automatic cuts that will happen. they do not want to look like they're trying to stop the economy from functioning. that one-stop social security. they're trying to refocus. >> what i love about this bill is that they're putting a provision in it that if they do not pass and then they will not get paid. >> they have not passed a bill of four years. we often make but as every year and they cannot begin a federal budget done. obama stated that he will get this done. maybe if they do not get paid that will get it done. >> wenner for to that would be the toyota prius hybrid it was the top-selling car in california. toyota is doing very well. toyotas and hondas seem to be the type of car that californians by. uy. the trades big three are hurting. they're not on the list. california tends to be a trend setter. they have more profits. and the reports call the pre is roo
that will make raising the debt ceiling easier from now on. >> well, for the last several years, congressional republicans have held the full faith and credit of the united states of america hostage to score political ndp 30 party base. consider doing what congress has always done under both parties and allow the government to pay the bills it has occurred, they decided to play a game of chicken with the global economy. up until now, republicans have been all about politics and points coring. the two families who've been watching this debate across the country, it was about their jobs and their paychecks and their future. when republicans put us through this in 2011, at that s&p to downgrade her dad. today speaker boehner announced he would not allow consumer confidence began falling. job growth slowed in the recovery faltered. it was a good wound at a time when we needed to be working together to grow the economy, not slow it down. the 2011.i. met brinkmanship guide to the budget control act and highlighted the american people just how extreme republicans were when it came to their budget pri
their demand for a debt ceiling increase only with spending cuts attached. >> it's a concession by republicans that they were not going to be able to win a spending cut fight using the debt ceiling vote. >> reporter: the clock is ticking. the country will max out its credit card at $16.4 trillion in several weeks, risking possible default on the nation's debt unless congress okay's more borrowing. the house is considering a short-term fix. lift the debt ceiling for a few months to take the pressure off, but require both house and senate to pass a budget. if they fail, congress would not get paid. >> you can't go for months and months without a paycheck. and what this does is basically says that your pay gets escrowed, put on hold until you pass a budget. >> reporter: trying to turn up pressure on democrats in the senate, who have not passed a regular budget in four years, relying on this comparison. >> didn't exist the last time the senate passed a budget. >> the last time they passed a budget the ipad hadn't even been introduced. >> it is expected a block of conservatives probably will not su
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